#Fed unanimously raises benchmark rate by 25bps to 3.75%-4% range as expected. FOMC Median forecast shows one additional 25bps hike in 2026. So the Fed and Warsh past the credibility test, at least for now! https://t.co/ktWeIWlOyr
Weaker New York manufacturing data did little to lift gold.
The Empire State index fell to 7.6 from 20.6, below the 14.8 forecast, while spot gold traded at $4,283.60, down 0.34%. Markets price a >90% chance of a 25-bp Fed hike.
In this Sept. 11 interview, Gary Wagner placed December futures support near $4,350, with major support just below $4,000. The contract has since traded below $4,350.
Gold is down 1.7% this week at $4,354.90 as markets price a nearly 90% chance of a Fed hike. But analysts say holding $4,300 support and rising fiscal risks could limit the longer-term damage.
Gold rebounded to $4,347.10, up 0.73%, as oil, yields and the dollar eased. But Fed-hike odds remain near 85%-90%, and the recovery is still tactical—not a confirmed trend reversal.
